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Vietnamese credit growth hits 6-year high in Q1

Xinhua, April 14, 2017 Adjust font size:

The credit growth of Vietnamese economy reached 4.03 percent as the end of March, 2017 compared to that in the beginning of the year, posting the highest increase since 2012, according to the State Bank of Vietnam (SBV) on Friday.

Local experts believed that the target of 17-18 percent for credit growth in Vietnam in 2017 "is absolutely feasible," reported the Vietnam Economic Times (VET) on Friday.

Official data showed that the country's credit growth reached 1.96 percent, 0.1 percent, 1.5 percent, 1.96 percent, and 1.79 percent in the first quarter (Q1) of 2012, 2013, 2014, 2015 and 2016, respectively.

In Q1, credit balance of the production and business sector accounted for some 80 percent of the total credit growth.

During the three-month period, the lending interest rates remained stable, ranging from 6 to 9 percent per year for short-term loans, and from 9-11 percent per year for long-and medium-term loans, said SBV. Endit